Microsoft has inked a $9.7 billion, five-year agreement with Australia’s IREN to bolster its AI cloud capacity amid surging demand. The deal grants Microsoft access to infrastructure powered by Nvidia GB300 GPUs, set to roll out through 2026 at IREN’s 750MW Texas facility. IREN, originally a bitcoin miner turned AI compute provider, expects the partnership to drive nearly $1.9 billion in annual revenue.
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